Debit cards

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

Stay-at-home orders and business shutdowns have led to a sharp decline in consumer use of credit and debit cards.

Consumers are using their debit and credit cards less, and that's causing a decline in interchange income for credit unions and banks.

Google’s reported plan to offer its own version of the Apple Card is less of a play for credit and more of a play for its mobile users' bank accounts.

Overall credit card spending is down 32% while debit card purchases have declined by 12% for the week ending April 12.

The world’s largest payment companies are fighting for their own piece of the U.S. coronavirus stimulus: an assignment to help distribute some of the relief money that will be sent to millions of Americans in the coming weeks.

In contrast, grocery stores and pharmacies saw a jump in spending during the coronavrius outbreak, according to credit union member data examined by the CUSO.

The most innovative fintech solution may be debit, which is already integrated into digital-first experiences in a way that’s fresh and exciting for the consumer, says Meta Financial Group's Matt Withey.

As part of its financial inclusion campaign, Mastercard has partnered with Moneytrans to launch remittance-linked checking for migrant workers with a goal of obtaining 1 million users by 2025.